ClearPoint Neuro Reports Q2 2024 Financials

TL;DR

ClearPoint Neuro's Q2 2024 results are in, showing revenue from products & services.

AI Summary

ClearPoint Neuro, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported revenue from product sales and services, with specific figures for the second quarter and the first half of the year. The filing details financial performance and operational aspects for the period.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for ClearPoint Neuro, Inc., crucial for understanding the company's trajectory in the medical device sector.

Risk Assessment

Risk Level: medium — The company operates in the medical device sector, which is subject to regulatory, competitive, and technological risks.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-01-01 — Reporting Period Start Date (Indicates the beginning of the fiscal year-to-date period.)
• 2023-12-31 — Prior Year End Date (Provides a reference point for year-over-year comparisons.)

Key Players & Entities

• ClearPoint Neuro, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• MRI INTERVENTIONS, INC. (company) — Former company name
• SURGIVISION INC (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share CLPT Nasdaq Capital

Filing Documents

• clpt-20240630.htm (10-Q) — 757KB
• clpt-20240630xex311.htm (EX-31.1) — 10KB
• clpt-20240630xex312.htm (EX-31.2) — 10KB
• clpt-20240630xex32.htm (EX-32) — 5KB
• 0001285550-24-000098.txt ( ) — 4586KB
• clpt-20240630.xsd (EX-101.SCH) — 29KB
• clpt-20240630_cal.xml (EX-101.CAL) — 43KB
• clpt-20240630_def.xml (EX-101.DEF) — 153KB
• clpt-20240630_lab.xml (EX-101.LAB) — 484KB
• clpt-20240630_pre.xml (EX-101.PRE) — 320KB
• clpt-20240630_htm.xml (XML) — 531KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets as of June 30 , 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three months ended June 3 0 , 2024 and 2023 2 Condensed Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30 , 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 3 0 , 2024 and 2023 4 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27

SIGNATURES

SIGNATURES 28 Trademarks, Trade Names and Service Marks ClearPoint Neuro , ClearPoint , SmartFlow , SmartFrame , SmartGrid , Inflexion , SmartTwist , SmartTip , ClearPoint Maestro , SmartFrame Array , SmartFrame OR , ClearPoint Neuro Orchestra , ClearPoint Prism , SmartFlow Flex , ClearPointer , ClearPoint Pursuit , , and When Your Path is Unclear, We Point The Way are all trademarks of ClearPoint Neuro, Inc. Any other trademarks, trade names or service marks referred to in this Quarterly Report on Form 10-Q (this "Quarterly Report") are the property of their respective owners. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report contains "forward-looking statements" as defined under the U.S. federal securities laws. The forward-looking statements relate to our expectations for performance, revenues and costs, and the adequacy of cash and cash equivalent balances and short-term investments to support operations and meet future obligations. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would," and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these words. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Quarterly Report, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In evaluating forward-looking statements, you should refer to (i) the se

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CLEARPOINT NEURO, INC. Condensed Consolidated Balance Sheets (in thousands, except for share and per share data) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 32,845 $ 23,140 Accounts receivable, net 3,475 3,211 Inventory, net 8,031 7,911 Prepaid expenses and other current assets 2,205 1,910 Total current assets 46,556 36,172 Property and equipment, net 1,545 1,389 Operating lease, right-of-use assets 3,330 3,564 Software license inventory 236 386 Licensing rights 758 1,041 Other assets 149 109 Total assets $ 52,574 $ 42,661 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 822 $ 393 Accrued compensation 2,996 2,947 Other accrued liabilities 1,302 1,053 Operating lease liabilities, current portion 516 424 Deferred product and service revenue, current portion 1,079 2,613 2020 senior secured convertible note payable, net 9,979 — Total current liabilities 16,694 7,430 Operating lease liabilities, net of current portion 3,302 3,568 Deferred product and service revenue, net of current portion 446 541 2020 senior secured convertible note payable, net — 9,949 Total liabilities 20,442 21,488 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.01 par value; 25,000,000 shares authorized; none issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; 90,000,000 shares authorized at June 30, 2024 and December 31, 2023; 27,588,812 shares issued and outstanding at June 30, 2024; and 24,652,729 issued and outstanding at December 31, 2023 276 247 Additional paid-in capital 212,866 193,382 Accumulated deficit ( 181,010 ) ( 172,456 ) Total stockholders' equity 32,132 21,173 Total liabilities and stockholders' equity $ 52,574 $ 42,661 See accompanying notes to Condensed Consolidated Financial Statements. 1 CLEARPOINT NEURO, INC. Condensed Consolidated Statements of Operati

View Full Filing

View this 10-Q filing on SEC EDGAR